New Delhi: Elon Musk’s bid to buy Twitter for $43 billion has spawned a slew of memes and jokes, but one segment of the Internet was taken aback when they realised that the staggering figure proposed by the world’s richest man could wipe off an entire country’s external debt. On Tuesday, Sri Lanka, which is experiencing its worst economic downturn since independence, defaulted on its $51 billion external debt.
After running out of foreign cash to buy badly needed products, the island nation described the decision as a “last resort,” according to news agency AFP.
Elon Musk’s offer to buy Twitter for $43 billion, according to Snapdeal CEO Kunal Bahl, is compared to Sri Lanka’s debt. Bahl said, “He can buy it and call himself Ceylon Musk.”
In reality, the WhatsApp joke has been making the rounds on the social media network.
Many, on the other hand, were less than amused, pointing out that one man’s ability to bail out an entire country spoke a lot about wealth concentration and why it’s a problem.
“Elon Musk is offering $43 billion to buy Twitter. Sri Lanka is battling a $45 billion debt to stay afloat. One Twitter user said, “There is something fundamentally wrong with the planet.”
Elon Musk, the CEO of Tesla, launched a hostile takeover attempt for Twitter on Thursday, insisting that the network must be reformed but admitting that his $43 billion proposal may fail.
In a filing with the Securities and Exchange Commission made public on Thursday, the world’s wealthiest person offered $54.20 per share, valuing the social networking company at $43 billion.